June 30, 2022
Flo Schepers is a trainee at StartGreen. She has a strong affinity for Africa, female entrepreneurs, and sustainability, so she feels right at home at StartGreen. Especially now that StartGreen is establishing a fund with Evenpar for renewable energy projects in Africa.
Trainee program
‘During this two-year trainee program, I—just like my two fellow trainees Xavier and Michiel—get to know at least four of the six StartGreen funds. Every six months, we move to a different fund. This allows us to learn about various financing methods and the different focus areas of the funds.
Double impact
After my Master’s in Entrepreneurship, I really wanted to do something that makes an impact. In my opinion, you can make the greatest impact by bringing money to places where it is needed. That is how I ended up in impact investing. As far as I know, StartGreen is the only venture capital firm that has a trainee program, especially one with so many different funds. Here, I can discover which place suits me best. Furthermore, the focus here is on impact: not only financial, but certainly social as well.
Broadly trained
As a trainee, I perform analyst work and learn everything about the profession as I go. We receive a very broad training and learn about the different ways of investing across StartGreen’s three main themes: renewable energy, circular economy, and diversity. Each fund has its own primary focus. For example, Energiefonds Overijssel focuses mainly on the energy transition, while Borski Fund focuses on tech innovations and female entrepreneurs. An additional benefit: as rotating analysts, we ensure that knowledge from one fund is shared even more effectively with the other funds.
Happy coincidence
During the first six months, I worked for Energiefonds Overijssel and for Evenpar, which, together with StartGreen, will finance renewable energy infrastructure projects in emerging markets. Because I grew up in Kenya and studied in South Africa, I have a strong affinity for Africa. When I started here, StartGreen was just launching the Evenpar fund, so for me, that was a very happy coincidence. It fits my interests perfectly; I believe there are many investment opportunities in Africa that can make a significant difference. There are many startups in Kenya, especially in Nairobi. That region is also known as the Silicon Savannah.
Combating prejudices
During my studies, I founded a business in Kenya with Kenyan women. Through the platform Haberdashery story, I collaborate with Kenyan talents to design products that align with the Dutch market. The site also features stories from the makers, so visitors can see the wealth of talent, creativity, and entrepreneurship in Kenya. Through Trade Not Aid, we also aim to stimulate the local economy. In addition, I am a photographer. With my photos of Africa, I show the abundance of happiness and beautiful nature. By sharing my vision of Africa, I want to combat certain prejudices about this continent and inspire people.
Different phases
Evenpar is currently fundraising. As an analyst for Evenpar, I have been involved in a wide range of tasks, including filling the data room and writing the investment memorandum. I have also reached out to my network in Kenya to find investors and projects seeking investment. Furthermore, I created a promotional video and the website to provide a clear picture for investors.
Since May 1, I have been working four days for Borski Fund and one day for Evenpar. I really enjoy staying involved with Evenpar. A lot is happening at Borski right now. It is in a completely different phase: Evenpar is just starting, while Borski has been active for a few years. It’s very interesting to see those differences. Borski also has a completely different focus. This fund is aimed at female-led businesses and primarily invests in femtech, healthtech, fintech, and recently also in deathtech: we are working on a platform that closes and removes all accounts of a deceased person.
From intake to closing
At Borski, I am involved in all steps of the investment process: from intake to closing. If a company meets the Borski criteria, we invite them for an initial interview. I then perform a quick scan: do we want to proceed with this company? If so, I conduct an in-depth analysis. I look at the market, the product or service, and the finances. If the investment proposal is approved, we draw up a term sheet with the entrepreneur. In it, we describe the form of financing and the terms under which we will invest. This is followed by the due diligence investigation, which I haven’t been involved in yet.
A pleasant surprise
Now that the first period is over, I can say that analyst work is broader and more diverse than I had imagined. I also have more responsibility and input than expected, which I really enjoy. If you have a specific interest, you can look for companies in that area. I find it a very pleasant surprise that there is room for that. I also find it very interesting to be involved in the entire process. This allows you to truly build a relationship with entrepreneurs.
Growth and development
I have good contact with my fellow trainees Xavier and Michiel. In addition, all three of us have a sponsor with whom we have goal-setting and performance review meetings. Your sponsor is also a kind of confidant you can turn to within the company. It’s great that they guide you throughout the entire traineeship. In the beginning, I also had a buddy who ensured a smooth landing.
Where I will go next is not yet certain. Ultimately, I want to become an investment manager at one of the funds. StartGreen is such a diverse company; you never stop learning here, and there are various ways to grow.’
